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Direct Deposit

Overview
At NC State, financial aid or other payments applied to your student account that exceed the amount of qualified charges will be disbursed in one of two ways. First, you have the option of direct deposit. By using direct deposit, you can have your Financial Aid or other student account refunds deposited directly into your checking account - any bank, anywhere - this saves an enormous amount of time and frustration. This is the same safe, secure process that is used to deposit payroll checks. If you elect to not sign up for direct deposit, a check will be mailed directly to the Home/Mailing address that you have listed in the MyPACK Portal. Please be sure to keep your bank account information and Home/Mailing address up to date in the MyPACK Portal.

Setting up your direct deposit account
Setting up direct deposit is easy. Just do the following:

1. Login to the MyPACK Portal and select "Student Self Service", "Campus Finances", "Account Summary", and "Direct Deposit". Enter the routing and account number information and click "Add/Update Bank Info".
2. Once you enter your information into the MyPACK Portal, a zero dollar transaction, called a prenote, will be created. The prenote is intended to test the validity of the account information you have entered. Depending upon your bank, this prenote transaction may be reflected on your bank statement. No direct deposits of financial aid can occur during the prenote process which takes 10 days. Instead, any refunds processed during this time will be in the form of a check.
3. After the prenote period has passed, all processed refunds received by the Cashier's office will be directly deposited to your checking account. If the prenote fails, you will receive an e-mail to the e-mail address that you have listed in the MyPACK Portal.

Other things you should know

1. If you change your checking account, you will need to update your information by logging into the MyPACK Portal - select "Student Self Service", "Campus Finances", "Account Summary", and "Direct Deposit". Enter the new routing and account number information and click "Add/Update Bank Info". If you close your checking account, you will select “Remove Direct Deposit. Funds will not post to a closed checking account, and there will be a disbursement delay created while the Cashier's Office is waiting for the rejected deposit to return to us from the bank.
2. To receive your Federal Subsidized or Unsubsidized Stafford Loan proceeds by direct deposit, you must request that your funds be sent to the NC State Office of Financial Aid via EFT (electronic funds transfer). You are given the option of selecting EFT when you select your lender. EFT is only available if you choose one of the six preferred lenders (College Foundation, Citibank, Chase, Educaid, First Union or Class Credit). If any of your funds arrive at the Office of Financial Aid in the form of a check, that check will be mailed to your Home/Mailing address.